Shares in companies related to COVID-19 research and vaccine development surged on Monday after researchers discovered a new coronavirus linked to COVID-19 in bats. The discovery by scientists at the Wuhan Institute of Virology, published last week in journal Cell, has raised concerns that the new virus could spread from animals to humans. In Korea, stocks like Sugentech, Cellid, and Welcron jumped up in response. Asian companies producing diagnostic kits also saw significant gains as investors hoped for increased demand. Meanwhile, US sector stocks followed suit after a similar article was published, further boosting investor confidence in the region.
Source: https://www.bloomberg.com/news/articles/2025-02-24/covid-linked-stocks-jump-in-korea-hong-kong-on-new-virus-find